This year's elections have perhaps been the most electric and talked about, not just within the country but globally as well. The new government brings with it a lot of promise for both the common man and business circles alike, and the Budget was perhaps its first test.

Hence, it was encouraging, yet not surprising to see that e-commerce got an explicit mention. E-commerce is set to become a $30-billion industry in the next five years, which will not just provide access to consumers from across the country but will also create tremendous employment opportunities for all participating businesses like logistics firms and small businesses.

Logistics infrastructure is one of the foundational pillars of the e-commerce industry and the extension of railway logistics support is a positive initiative. It will expand the reach, speed and certainty of delivery to consumers. Lower delivery costs in turn will benefit consumers who will now be able to buy these products at better prices.

One of the biggest challenges for the e-commerce industry has been the asymmetric entry tax regimes followed by states, sometimes specifically focused on impeding e-commerce deliveries to consumers in these states from small businesses in other states, affecting both businesses and consumers.

Implementation of GST by end of this year is a welcome decision and will enable friction free trade between the states and drive more efficient markets. With this positive start underway, the Government must consider additional reforms to further accelerate this industry's growth.

For instance, the government must consider investing further in enabling postal services to cater to the needs of e-commerce companies. Our vast postal system can be used to develop a nationwide distribution network, especially given the investments being proposed in the Budget in bridging the digital divide via rural broadband investments and reduction in prices of mobile phones.

In order to boost entrepreneurship, the government must also consider simplifying current complexities involved in starting a new venture. A single window platform, which provides all information as well as clearances that a start-up needs so that the time to market reduces, would be very welcome.

The e-commerce revolution will serve as the biggest socio-economic equaliser that India has seen since telecom. Thank you, Mr Jaitley, for recognising the positive impact we also wish to bring to India.